Imperial Properties Signs Landmark Property Management & Leasing Agreement

Landmark commercial building coming to corner of Osborne & Pembina (Confusion Corner)

WINNIPEG, Sept. 4, 2012 /CNW/ - Imperial Properties Corp., a leading Winnipeg property management firm, is pleased to announce that it has signed an agreement to manage and administer leasing for a new landmark six-story office building.

257 Osborne Street, a Class A office building designed by SNH Architecture, will be located at the corner of Pembina Highway and Osborne Street in Winnipeg, just steps from the area's new rapid transit corridor. With about 45,000 square feet of leasable space, the building will include ground-floor retail and five floors of customizable office space. It will also offer both heated underground and ground-floor parking. A Winnipeg first; three integrated digital full colour LED billboards are planned for the building, each being 10x20', advertising opportunities will exist for both tenants and outside advertisers.

"This project demonstrates the tremendous confidence that the land owners have in the economic growth and development of Winnipeg," said Adrian Schulz, President and CEO of Imperial Properties Corp. "Great companies and great buildings often go hand-in-hand, and we are committed to building a landmark property on this site in order to contribute to the growth our city has experienced recently."

The key gateway to Osborne and Corydon Village and the City Centre, 257 Osborne will be situated at Winnipeg's highest traffic intersection, with over 91,100 vehicles per day according to January 2008 City of Winnipeg traffic studies. Construction is scheduled to commence this fall, with tenant occupancy scheduled to begin Q4 2013.

"The owners of the land at this location believe that the opening of the new rapid transit corridor, along with the consistent growth of the surrounding areas, make this is an opportune time to develop this property," said Schulz. "Buildings like this one are instrumental in moving the area and the city forward. We look forward to managing 257 Osborne."

Bruni Auto Repair & Body Shop, the business that currently occupies the property has been acquired by Pembina Chrysler Dodge Jeep, a division of Pembcorp Automotive Group. The original owners of Bruni are retiring from the automotive industry. This will make room for construction of the new development.

Imperial Properties is offering full leasing commissions to all commercial Brokers with accepted offers to lease. Naming rights are available to an anchor tenant. To learn more, visit http://www.imperialproperties.ca/commercial.

SOURCE: Imperial Properties Corp.

For further information:

Please direct inquiries to:
Adrian Schulz, 204-272-8799
aschulz@imperialproperties.ca

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